85% of people surveyed say the metaverse will impact employment and work

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Interestingly, respondents do expect the metaverse to be part of their daily habits, with 51% saying it will be a place to work.

Global HR leader Josh Bersin wrote in his 2022 workforce predictions that the big trend in 2022 will be better, virtual tools and the emergence of the metaverse — which Bersin noted will "further transform the definition of hybrid work, as well as onboarding, training, collaboration, meetings, entertainment, and commerce.

"Imagine, for example, a staff meeting where everyone can interact and move around (as if they were really there), but without spending five hours flying across the country. There’s a big future here," he had written.

Concurring with Bersin's insights is a recently-published report by Wunderman Thompson which shares, among other terms, the creation of virtual teleportation which would make the above a reality in teams collaborating across borders.

Overall, close to nine in 10 (85%) respondents surveyed in the US, UK, and China for the report said employment and work — for instance (meetings, collaboration, in-person work, and conferences) will be impacted by the metaverse; the same percentage said so for the fashion industry, while 86% said so for retail, 89% for advertising, and coming out top — 90% said so for entertainment.

Interestingly, the report also revealed that respondents do expect the metaverse to be part of their daily habits, with 51% saying it will be a place to work.

*Note: While the research for this report was conducted in the US, UK, and China, HRO believes the content remains relevant to our readers across the rest of Asia. 

"It is super-important for companies and brands to have skilled staff in the metaverse and Web 3.0 space," Mehta Mehta, Global Executive Creative Director, Hogarth, notes in the report. 

In addition, a close percentage said it will be part of their daily life, while the majority said it will be a place to socalise. Other expectations include a place to shop (70%) and the future of e-commerce/online shopping (68%).

Are people for the metaverse?

As with all things in the digital era, privacy {both overall (69%), and of children (72%)}, data protection (69%), children's safety (66%), and bullying (57%) are among the top areas of concern respondents revealed.

However, many still see some promising signs and opportunities in the metaverse.

Respondents are saying it will be:

• the future (74%)
• the next big thing (72%)
• the next Internet (68%), and
• life-changing (66%)

Respondents also believe it can bring people together and foster inclusivity:

• Brands need to work just as hard to create inclusive spaces in the metaverse as they do offline (71%).
• The metaverse will be inclusive (70%).
• We need to make sure everyone everywhere in the world can benefit from the metaverse (66%).
• The metaverse can bring people together (64%).
• It has the ability to be more inclusive than the physical world (62%).

Last, respondents also note that it allows for authentic and individual self-expression:

• 76% want their avatar to express their creativity and individuality in ways they can’t in the physical world.
• 51% feel it would be easier to be their true, authentic self in the metaverse.

[ALSO READ: Data literacy in the workplace: Future jobs and salary increments]

Metaverse terms to add to your dictionary

Apart from the above, the report detailed a few Metaverse-related terms to know:

Interoperability:
The capacity for virtual experiences, possessions, and identities to travel unchanged across platforms.

Persistence:
Continuity of existence; the continuation of virtual life regardless of whether people are online or offline.

Decentralisation:
Distribution of ownership—the idea that the metaverse will not be regulated or run by a single corporation or individual.

NFT:
Non-fungible tokens (NFTs) are digital certificates of authenticity that will form the basis of digital ownership.

Digital twins:
Physical spaces that have been cloned in the virtual world to promote familiarity and efficiency.

Liminal spaces:
A new generation of gathering spaces and event locales that incorporate both physical and virtual elements.

Extended reality:
An umbrella term encompassing augmented, virtual and mixed realities.

Web3:
A decentralised, blockchain-based internet that will enable a seamless fusion of virtual and physical life.

DAO:
Decentralised autonomous organisations (DAOs) are community-led digital organisations that run on blockchain technology.

Virtual teleportation:
A new technologically enabled form of travel or collaboration that uses multisensory and photorealistic renderings to make you feel as though you’re in the same room as someone who could be halfway around the (physical) world.

Lead image: 123RF